The global food premix market was worth $38. 5 billion in 2019 and reached $45. 76 billion by 2023. The global food premix market experienced a year-on-year growth rate of 5. 1% compared to the year between 2019 and 2023.
According to the new Market Estimates report, the market value is expected to increase at a rate of 7. 4% over the next ten years. Following this higher rate of expansion, net profit generated through the global market is expected to reach $102. 7 billion through 2034.
Traditionally, food premixes were necessary to satisfy the desires of consumers looking for quick and easy food solutions. Instead, consumers are now looking for food premixes that offer more nutritional benefits, such as nutrients and minerals, in line with the growing popularity of fitness and wellness trends.
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The demand for micronutrient-enriched premixes has increased in the livestock sector due to the expansion of the foreign industry in food products of animal origin. Therefore, industries around the world that employ protein-rich ingredients to prepare animal feed are expected to increase the productivity of feed premixes in the coming days.
“Market players in evolved economies are reaping benefits from a well-established sales channel and are expanding their grip on the global market with the proliferation of online retail channels. Government micronutrient breeding systems in emerging countries in Africa and Asia are very likely to inspire the emergence of new market players in those regions.
Key Takeaways from the Feed Premixes Market Research Report:
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Competitive Landscape for Feed Premix Market Players:
Competition among feed premix brands has intensified after the pandemic years, as many governments have begun to inspire industries to offer preventative fitness solutions. However, major market players still account for a significant percentage of the global market due to the increased popularity of the logo and the wide chains of origin.
Profiled Primary Key
Recent in feed premix industry:
In September 2023, Fermenta Biotech Company announced the opening of its new premix production facility in India. The purpose is to supply custom-designed premixes for industries, adding beverages, nutritious beverages, bakery and confectionery, ready-to-use healing foods (RUTF), ready-to-use complementary foods (RUSF), nutritional supplements, and staple fortification.
In May 2023, DSM, a well-known fitness and nutrition company, proposed to expand its next-generation nutritional premix plant in Kansas. Construction of the facility began in July 2023 and is expected to be completed in early 2025. High quality, nutritious This new facility will provide premixes for the manufacture of high-quality puppy food products to the global pet food industry. puppies.
Key segments covered in the survey report on the food premix industry:
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the New York Chamber of Commerce) provides detailed information on the drivers driving market demand. FMI is the world’s leading provider of market intelligence, consulting and advice. and event facilities in the packaging, food and beverage, customer technology, healthcare, commercial and chemical markets. With an extensive team of more than 400 analysts worldwide, FMI provides global, regional and local expertise on industry spaces and trends in more than 110 countries. .